CBDT released Java utility for ITR-2 & ITR-3 for F.Y. 2017-18

CBDT released Java utility for ITR-2 & ITR-3 for F.Y. 2017-18

 

           CBDT has now released  for Assessment Year 2018-19, Java Utility of ITR-2 & ITR-3. Till date Java utility of ITR -1 to ITR-4 has been released. It is important to note that excel utility of ITR-2 & ITR-3 has not been released now, which will be released soon . Java utility of ITR-5 to 7 is yet to be released. Any one can download these utilities by just visiting to incometaxindiaefiiling.gov.in the official website of income tax Departement. 

       ITR -1 (Sahaj) can be filed by an individual who is resident other than not ordinarily resident, having income upto Rs.50 lakh and who is receiving income from salary, one house property / other  source income (interest etc).excluding  income from lottery & winning of horse races.    

       ITR-2 is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2018-19 includes income salary/pension, house property, capital gains. It is important to note partner earning income from partnership firm is required to file ITR -2. It is also used if agriculture income is more than 5000.Also this return is used where income of one person like minor/spouse is to be clubbed with income of assesse. 

        ITR-3: The old ITR4 form has been now named as itr -3 as itr-4s has been discontinued.This return is to be used by person having income from business/ profession. Further income from House property, Capital gain etc can be included in this return. 

        ITR-4: can be filled by individual/huf having income form business or profession they have opted for presumptive income  income under section 44AD, 44AE etc.